Student organizations — including the University’s clubs, special-interest fraternities and other groups whose operation depends on funds allocated by Student Government — will see their money change hands at the end of the 2017-18 year.
All money distributed to these groups by the Undergraduate Senate in the future will be relocated from accounts managed by the Student Activities Fund Office (SAFO) and into the hands of the Carolina Union business office. SAFO will continue managing funds for the remainder of this year as it slowly phased out.
Money that Student Government gives organizations is held in bank accounts run by SAFO. Money that organizations generate independently through fundraisers, member dues or other means also lies in SAFO accounts.
Student organizations have been asked to move their self-generated funds to external bank accounts by November 15, as part of the first phase in the process of relocating money to the Carolina Union business office.
Benjamin Albert, the treasurer for the Undergraduate Executive Branch, is confident that moving money out of SAFO will make the allocation process more streamlined, cutting costs for students and Student Government.